{"id":621198,"date":"2018-11-01T04:14:13","date_gmt":"2018-11-01T04:14:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/01\/egypt-jumps-8-spots-in-world-banks-2019-ease-of-doing-business-report\/"},"modified":"2018-11-01T04:14:13","modified_gmt":"2018-11-01T04:14:13","slug":"egypt-jumps-8-spots-in-world-banks-2019-ease-of-doing-business-report","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/01\/egypt-jumps-8-spots-in-world-banks-2019-ease-of-doing-business-report\/","title":{"rendered":"Egypt jumps 8 spots in World Bank\u2019s 2019 Ease of Doing Business report"},"content":{"rendered":"

<\/a> ** #1 More good news: Egypt is among the most-improved countries in the World Bank\u2019s latest Ease of Doing Business report: <\/b>Egypt jumped eight spots to rank 120th out of 190 countries in the World Bank Group\u2019s 2019 Ease of Doing Business report (pdf)<\/a>. The country made it to the report\u2019s list of top performers in 2017-18 thanks to the implementation of regulatory reforms that facilitated doing business in three or more of the 10 topics included in the report compared to last year. Here\u2019s where we did well:<\/b><\/p>\n

Starting a business:<\/b> The process of starting a new business became easier over the past year with the introduction ofa \u201cone-stop shop\u201d for investors that doesn\u2019t require a bank certificate, which helped reduce \u201cregulatory complexity\u201d in 2017-18. According to the report, it now takes an average of 11 days and 6.5 steps to start a business.<\/p>\n

Making it easier to access credit: <\/b>Egypt also worked on strengthening the legal rights of borrowers and lenders \u201cby introducing the possibility of granting a non-possessory security right in a single category of movable assets without requiring a specific description of the collateral. Secured creditors are now given absolute priority over other claims, such as labor and tax, both outside and within bankruptcy proceedings,\u201d the report said.<\/p>\n

Egypt also stepped up protections for minority investors<\/b> by expanding shareholders\u2019 role in company management and \u201cincreasing corporate transparency.\u201d<\/p>\n

We can actually restructure with bankruptcy protection rather than go to jail: <\/b>Under the subhed \u201cresolving bankruptcy,\u201d the World Bank notes that Egypt \u201cintroduced a new restructuring procedure, which included training programs on solvency law and allowed debtors to initiate the reorganization procedure and granted creditors greater participation in the proceedings.\u201d<\/p>\n

Paying taxes has also been made easier <\/b>by improving the VAT refund process, extending it to refunds to manufacturers in case of a capital investment.<\/p>\n

How did we fare in comparison to others?<\/b> New Zealand remains at the top of the global ranking, followed by Singapore and Denmark. Somalia also retained its spot at the bottom of the chart, despite its score improving slightly y-o-y. The UAE was the highest ranked MENA country, climbing to the 11th spot from 21 last year. Morocco ranked 60 and Saudi Arabia ranked 92.<\/p>\n

Other recent good news: <\/b>Smart government policy helped virtually eliminate the \u201cblack cloud\u201d<\/a> that previously plagued the nation\u2019s capital every fall and a World Bank report found the white cab taxi replacement program slashed Egypt\u2019s carbon dioxide emissions by 310k tonnes in 2013-2017<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

** #1 More good news: Egypt is among the most-improved countries in the World Bank\u2019s latest Ease of Doing Business report: Egypt jumped eight spots to rank 120th out of 190 countries in the World Bank Group\u2019s 2019 Ease of Doing Business report (pdf). The country made it to the report\u2019s list of top performers […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,125,2380,321],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-621198","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-investment-watch","tag-speed-round","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"7cd75582-c6fd-4453-b56a-5b28eb78676e","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[621191],"teaser":"","voice_url":""},"yoast_head":"\nEgypt jumps 8 spots in World Bank\u2019s 2019 Ease of Doing Business report - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/01\/egypt-jumps-8-spots-in-world-banks-2019-ease-of-doing-business-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt jumps 8 spots in World Bank\u2019s 2019 Ease of Doing Business report\" \/>\n<meta property=\"og:description\" content=\"** #1 More good news: Egypt is among the most-improved countries in the World Bank\u2019s latest Ease of Doing Business report: Egypt jumped eight spots to rank 120th out of 190 countries in the World Bank Group\u2019s 2019 Ease of Doing Business report (pdf). 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The country\u2019s score rose to 60.1 from 58.56 and is among 42 countries to have implemented regulatory reforms that facilitated doing business\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/10\/2028.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594469,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/30\/world-bank-annual-business-rankings-significantly-impact-government-policy\/","url_meta":{"origin":621198,"position":1},"title":"World Bank annual business rankings significantly impact government policy","author":"enterpriseam admin","date":"30 October 2019","format":false,"excerpt":"EXPLAINER- Why World Bank annual business rankings significantly impact government policy: Since its 2003 inception, the World Bank\u2019s annual Ease of Doing Business report has grown to become a key yardstick for measuring economic indicators, and now has a significant impact on policy and regulation across the world, the Economist\u2026","rel":"","context":"In "Worth reading"","block_context":{"text":"Worth reading","link":"https:\/\/enterpriseam.com\/egypt\/category\/lifestyle\/worth-reading\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/78.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595224,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/19\/egypt-is-africas-number-one-investment-destination-says-rmb-report\/","url_meta":{"origin":621198,"position":2},"title":"Egypt is Africa\u2019s number one investment destination, says RMB report","author":"enterpriseam admin","date":"19 September 2019","format":false,"excerpt":"Egypt is Africa\u2019s number one investment destination for the third straight year, says RMB report: Egypt tops the list of most attractive African countries to invest in for the third year running, according to South Africa\u2019sRand Merchant Bank\u2019s 2020 investment report, due to be released next January. \u201cEgypt has made\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592682,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/04\/world-bank-sees-egypts-gdp-growth-outpacing-mena-average-this-year\/","url_meta":{"origin":621198,"position":3},"title":"World Bank sees Egypt\u2019s GDP growth outpacing MENA average this year","author":"enterpriseam admin","date":"4 November 2019","format":false,"excerpt":"The World Bank sees Egypt\u2019s economy growing 5.5% this year, outpacing the MENA average of 1.5%, according to the World Bank\u2019s annual report (pdf). The report singles out Egypt\u2019s \u201cstrong reforms on the fiscal and energy fronts\u201d as a key driver of higher growth than its regional peers. 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